Does have LIVE. If you can find a good game, it's fun. You will run into lag in some games making them virtually unplayable. They are supposedly working on it and will release an update soon.
You might not find it repetative. I guess all FPS games are fairly repetative to a degree. It's just that defending and area and clearing out one building after another made me take a break for a few days at one point. Still, a terrific game that can be hard as hell on veteran. Props to FREAK for completing much of the game on vet. level.